The financial performance of select Sugar Manufacturing companies measured considering the relative impact of liquidity, turnover and leverages on profitability of the five companies viz. Bannari Sugars, Balrampur Chini, Dalima Sugars, Dwarkesh Sugars and EID parry which are the enterprises listed in the National Stock Exchange (NSE). Sugar industry is an important agro-based industry that impacts rural livelihood of about 50 million sugarcane farmers and around 5 lakh workers directly employed in sugar mills. Employment is also generated in various ancillary activities relating to transport, trade servicing of machinery and supply of agriculture inputs. India is the second largest producer of sugar in the world after Brazil and is also the largest consumer. According to the Indian Sugar Mills Association (ISMA), 492 sugar mills were in operation in the country as on 31st December 2021 and have produced 115.55 lakh tonnes of sugar, as compared to 110.74 lakh tonnes produced by 481 sugar mills as on 31st December 2020. This is 4.81 lakh tonnes higher as compared to last season’s production for the corresponding period.